The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-07-05
A TALK With jay GOULD,
AT HIS BEAUTIFUL SUMMER
HOME ON The HUDSON,
Turns the Light on Life In Wall
Street.-The Is Out Of the
Market.
RAILROADS THE SURESr AVE.
NUE. TO WEALTH.
The Great Millionaire Does Not
Like BoOms-They Always Pre-
cede Collapse.

New York, July 4.-From the bro &C
veranda on the back OF his summer
house at Irvington.on. the Hudtol las
night Jay Gould could see the light
cleaning on his yacht at anchor il
the river and h ar the splash Of pass
ing steam and sail craft The cricket.
chirped, the frogs croaked end the
nightbirds VIII stled. The moon wsl
full and flooded the beautiful grounds
with light. The air was bamy with
the odor OF shrub and fl ,wer. 1t wal
q mighty change from the scene In
Wall street, where Mr.. Gould was fol
years the great genius OF the market
the man who could twist values mp.
ward or knock them down at will.
A reporter OF the World turned up
the road to the white stone house on
the eminence, which looked like q
grand palace 10 the moonlight. A
pull at the silver bell handle brought
ssrvaut, who took in the reporters
name and moment after the visitor
was conducted to the little room which
does duty ss Mr.. Gould's home offics.
The only thing, however, that gave il
business air was table in the mid.
die OF the room, on which were piled
the 6nsncieT's letters and papern.
After a cordial hsndshake the reporter
was invited to q seat, ard Mr.. Could
lay back In an easy chair. He seemed
as free from care as person who had
nothing to do but enjoy life.
"The World would like to learn irc m
you, Mr. Gould, in what way the most
money is Lest in Il street." said the
reporter.
There are two ways in which the
gies; Losses In Wall street are sue
tained," replied Mr.. Gould. The
first is by getting shor. Of stocks, sud
the next IL by men buying wha. they
cannot pay for. The sudden swirls in
speculation overvhem operators.
Daniel Drew was worth 1900 900, but
he lost mons bearing Stocks"
who are to be the leaders in the
stock market hereafteT2 Some Of ~
cd leaders have died and most OF the
Others have retired"
ihFlC hlt luNN III NNIf
street as eve there ives. There is s.
V. White for one. He ia a man
great ability in speculation; another 8
John ID Slayback, who Ia msn thor
oughly Cal ABLE Of reading and hand.
ling the market. l might name y
number OF others who are lpabe OF
taking prominent parts In the epecu
lstivs rains. So far as am concern
ed, "a have said before, l am wholly
out Of the market. l closed up all Of
my contr cts year ago last January,
and nothing could induce me TO r..
turn TO the stree. Wceu | was man.
ipulsting the market bad grea,
many combinations against me, aud |
had TO get up early and continue a. il
until late to keep ahead. Blu. have
fought my lstt fight in the street, -
said Mr.. Gould, with a emile at the
recollection OF his bulling aud bearing
day..
"Do you believe that as good
chsuces TO make big fortunes in The
street will be- presente Ia tbs future
~ In the past9'
81 don't see what i TO hinder he
making Of large sums Of money. Blu.
tue great fortunes will never be made
In the street"
"Where 90 you coneider the most
money is TO be made?
"In the development Of railroads.
The railroad interests are the greatest
and most favorable investments The
thing 10 do Ia to study properly and
zee In what ways u can be improved
and made the most Iemuneratiye. II
you can bay railroad At ten cents on
the dollar and by developing Il msko
Il worth per or 100 per cent, you can
readily see how money can be mace
in It. 0ns plan IL 10 lot u,iness grow
mp along the read. Commodore Van.
derbit did not make his money In
Wall street, but b. development II
business on the lines OF his roads.
Take the New York Centia, for in
stance; the road aud subsequently
large cities grew up along IL.
snow this roEd nss tbs bueinsss OF
those cities. There are times when a
large investor a, 10 20 inJo the mar.
ket 10 pro ect his stock. There ATe
times, also, when great barg ,ins can
be picked up In TIE market. Tie
bears got Mfsouri Pacific down 10 90.
/ TOOK all they offered, for i knew
that par was cheap for IL. Whea they
could not get the stock 10 deliver, OF
course the price advanced"
"IIoT came you personally 10 select
railroad investmebbT'
81 have been interested In railroads
ever since l was q boy. / now think
q railroad ain Ia one OF the grandest
sights 10 the world. / like 10 Tee the
great driving wheels ay round" aud
Mr.. Gould made q circular motion
with his hand. "rhe sight reveals n
great triumph OF skill"
received no salary ON any
company OF which | am an officer. /
look 10 my investments wholly for my
income. When ! make tours Of In.
spection a the Missouri Pacific,
always pay my own erpenses.
do you believe, Mr. Gould, that
the break that hss lately taken place
10 q good thing for tbs stock market? p
Il think II Ia, for II II bad been de-.
layed, 1t would have been apt 10 DO
more serious. As II 10, no disastrous
conss quenees have resulted"
"DJ you look Tor steady improve.
ment In the stock market from this
H.. N.l9 ~